Producer Glamis Gold (TSE) posted a 12 cents-per-share profit for the third quarter of fiscal 1994, compared with 1 cents per share in the same period of the previous year.
The increase is largely due to higher gold production resulting from the newly commissioned Baltic mine in Kern Cty., Calif. A higher gold price and foreign exchange gains also contributed.
Glamis produced 27,793 oz. gold at US$188 per oz., yielding revenues of $13.9 million for the period. This compares favorably with the previous third quarter’s production of 16,820 oz. at US$215, which generated $7.5 million.
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